Brazil's securities industry regulator accused the former board of state-run oil producer Petrobras of setting a fuel pricing policy that misguided investors and hurt the company.
Leonardo Gomes Pereira, the chief financial officer of Brazilian airline Gol Linhas Aereas was nominated on Tuesday to head the country's securities regulator, in an unexpected pick outside the institution. Finance Minister Guido Mantega nominated Pereira to head the regulator, the CVM, the ministry said in a statement.